Bitcoin News Today: Whales Awaken, DOGE Prepares for Bullish Breakout

Dogecoin (DOGE) is showing signs of a potential breakout, with technical indicators and whale activity pointing to a bullish scenario. The memecoin has rallied by 7.7% in the last 24 hours, fueled by a decline in volatility and key on-chain signals. A whale recently moved 10.366 million DOGE worth $2.25 million from Binance, signaling renewed accumulation after a two-year dormancy period. This activity aligns with broader patterns of increased short-term holder supply, historically associated with bullish conditions for DOGE [1].

Technical analysis reinforces the optimism. On the 4-hour chart, Dogecoin appears to be breaking out of a triangle pattern, a formation that often precedes significant price movements. Trader Tardigrade highlighted $0.224 as a critical short-term resistance level, with a successful breakout expected to target the $0.24 range [1]. Meanwhile, Alphractal Founder Joao Wedson noted that rising short-term holder supply suggests accumulation is underway, a historically bullish signal. However, Wedson also acknowledged that the price is unlikely to rise in a straight line, as volatility remains a factor [1].

Further technical confirmation comes from the Bollinger Bands, which have begun to expand after a period of consolidation. The on-balance volume (OBV) has also climbed steadily over the past ten days, reflecting growing buying pressure. Despite these positive signals, DOGE faces resistance at the $0.25 level, which has acted as a ceiling since March. Breaking through this level would be a critical step in validating a broader rally [1].

Market participation has also surged, with trading volume reaching 949 million tokens in a single session—21% above the weekly average—suggesting both institutional and retail interest [2]. Additionally, Polymarket odds for a DOGE ETF approval have risen from 51% to 71%, with a decision expected by October. Broader macroeconomic factors also favor DOGE, as traders now price in four Federal Reserve rate cuts by year-end, starting in September. These cuts could encourage risk-on behavior, which is particularly favorable for high-volatility assets like memecoins [2].

Dogecoin’s outperformance has placed it ahead of both Bitcoin and Ethereum in recent performance metrics. DOGE has risen by 6.9% in the last 24 hours and 10.1% in the past week, while Bitcoin and Ethereum have seen smaller gains or, in Ethereum’s case, a slight decline [7]. This divergence may be attributed to several factors, including growing interest in a potential DOGE ETF and speculation about an interest rate cut. With a 90.1% probability of a 25 basis point rate cut and 9.9% for a 50 basis point cut, investors are pricing in a more accommodative monetary policy that could drive further risk-taking [7].

However, DOGE still has a long way to go before matching its 2021 all-time high of $0.73. At $0.21, it remains more than 70% below that level. Analysts suggest that while DOGE has a strong community and cultural appeal, it lacks the structural utility and institutional demand that have driven Bitcoin and Ethereum’s gains. Grayscale’s Zach Pandl noted that institutional investors are prioritizing assets with real-world use cases, a category in which memecoins traditionally do not fit [8].

Looking ahead, traders are closely monitoring key levels. A clean breakout above $0.22 and a sustained close above $0.221 would be strong signals for continuation, potentially opening the path to $0.25 and beyond [3]. Conversely, a failure to hold above $0.213–$0.214 support could see the price dip further toward $0.205. Derivatives metrics, including open interest and funding rates, will be important in confirming the strength of any upward move [3].

Source:

[1] Dogecoin price prediction - Whales' buying spree, a new ... (https://ambcrypto.com/dogecoin-price-prediction-whales-buying-spree-a-new-breakout-and-odds-of-hitting-0-25/)

[2] DOGE/BTC Triangle Breakout Flags Potential Rally if $0.22 ... (https://finance.yahoo.com/news/doge-btc-triangle-breakout-flags-031831007.html)

[3] DOGE Price Action Builds Higher Lows While Resistance ... (https://www.coindesk.com/markets/2025/09/08/doge-price-action-builds-higher-lows-while-resistance-holds)

[4] DOGE to BTC: Dogecoin Price in Bitcoin (https://www.coingecko.com/en/coins/dogecoin/btc)

[5] Dogecoin Outshines Bitcoin, Ethereum: Rate Cut Rally ... (https://cryptorank.io/news/feed/23395-dogecoin-outshines-bitcoin-ethereum-rate-cut-rally-kicking-in)

[6] Bitcoin and Ethereum Hit New Highs—Why Not Dogecoin? (https://finance.yahoo.com/news/bitcoin-ethereum-hit-highs-why-130103311.html)